Global ventilation fans market was worth US$1.6 bn in 2015 and is expected to reach US$2.4 bn by 2023, expanding at a CAGR of 4.9% from 2015 to 2023
Albany, NY -- (SBWIRE) -- 08/08/2016 -- The leading players Daktronics, Inc., Bodet Sports, and Leyard Optoelectronic Co., Ltd hold a collective share of 27.2% in the global LED stadium screens market in 2014. This indicates that the global LED stadium screens market is fragmented and sees a large number of players competing for a larger share in the revenue pie, reports Transparency Market Research (TMR).
"Companies are focusing on establishing manufacturing units in emerging economies of Southeast Asia and Central and South America. Large players will focus on strengthening businesses in China, the U.S., and European countries," says the lead author of the report.
Product innovation through a focused research and development approach will also be a key strategy used by established firms to make their mark in the global LED stadium screens market. Companies such as Mitsubishi Electric Corporation, for instance, have made sizeable investments in setting up R&D centers and laboratories in key markets worldwide. In the near future, companies will also emphasize on customization of digital displays to cater to the unique needs of the consumers.
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LED Stadium Screen Installations to Show Upswing as Audiences Demand Superior Visual Experience at Live Events
The growing number of live events and concerts is resulting in an increasing need to enhance the viewing experience, which, in turn, has resulted in a massive demand for LED stadium screens. Technologically advanced features of LED displays is also propelling the LED installations in the stadium. Marketing and advertising measures adopted by various companies are also increasing the usage of LED displays as static images can be run alongside live events to promote products and services. The budding construction of stadiums and sports events is also contributing towards the growth of LED stadium screens market.
LED sports displays featuring the 3-in-1 LED technology enhance the horizontal viewing angle to around 160°, offering viewers excellent clarity and contrast with a wide angle. These displays can be further fragmented to scrutinize or replay vivid graphics, colorful animations, scoring information, and accurate statistics. From a gaming perspective, they allow users to enhance their in-stadium experience with statistics and shots from various angles. All of these factors are expected to push up the demand for LED stadium screens in the coming few years.
Steep Costs of LED Stadium Screens Dissuades Buyers
The high cost of stadium screens is currently the biggest drawback for the LED stadium screens market. Stadium screens sized between 3x2 m2 are currently priced between US$15,000 to US$ 25,000, which can make them prohibitively expensive compared to conventional displays. Furthermore, the additional cost of packaging and thermal management is also discouraging investors from opting for LED stadium screens.
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Europe to Retain Lead, Asia Pacific to Emerge as Key Contributor
The research report points out that the opportunity in the overall LED stadium screens market was worth US$1.15 bn in 2014 and is expected to reach US$1.93 bn by the end of 2022. The market is expected to expand at a CAGR of 6.6% between 2015 and 2022. The fastest-growing technology segment will be the surface-mounted LED screens as it is poised to rise at a CAGR of 7.7% during the forecast period. Though Europe will be the leading geographical segment, Asia Pacific is expected to be an emerging one with a 7.7% CAGR between 2015 and 2022.
This review is based on Transparency Market Research's report, titled "LED Stadium Screens Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022."
-Global LED stadium screens market to reach US$1.93 bn by 2022
-Surface-mounted LED screens to soar at 7.7% CAGR between 2015 and 2022
-High cost of LED stadium screens compared to conventional displays dissuades end users
-Advancements in LED stadium screens and customization packages to create newer opportunities for the market
The global LED stadium screens market is segmented as follows:
LED Stadium Screens Market Analysis, by Technology (Revenue)
LED Stadium Screens Market Analysis, by Color Display (Revenue)
LED Stadium Screens Market Analysis, by Type (Revenue)
-LED Ribbon Displays
-LED Video Screens
-Perimeter LED Displays
-Scoreboards and Timing Screens
In addition, the report provides cross sectional analysis of the LED stadium screens market with respect to following geographical segments (Revenue):
-Middle East and Africa (MEA)
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